Doctors overpaid £11m in pension tax

Quilter FoI reveals hundreds of doctors have been effected

clock • 2 min read
Doctors overpaid £11m in pension tax

Quilter has uncovered through a freedom of information (FoI) request that around 400 NHS doctors have paid more than £11m in unnecessary lifetime allowance (LTA) charges.

The wealth manager said the FoI data showed that 413 members who have retired and paid LTA tax charges could have benefited from Individual Protection 2016 (IP16), which enables individuals to prot...

To continue reading this article...

Join Professional Pensions

  • Unlimited access to real-time news, analysis and opinion from the industry
  • Receive our in-depth monthly magazine in either print or digital format
  • Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
  • Receive important and breaking news stories selected by the Editors in our daily newsletter
  • Hear from industry experts and other forward-thinking leaders
  • Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date

Join now

 

Already a Professional Pensions
member?

Login

More on Industry

WSB Awards 2024 - Enter now!

WSB Awards 2024 - Enter now!

The 12th anniversary WSB Awards will be presented in London on 5 September

Workplace Savings and Benefits
clock 11 April 2024 • 2 min read
XPS upgrades result expectations in post-close trading update

XPS upgrades result expectations in post-close trading update

Consultancy says continued regulatory change and new clients are driving performance

Jonathan Stapleton
clock 11 April 2024 • 2 min read
Q1 mortality data similar to pre-pandemic lows

Q1 mortality data similar to pre-pandemic lows

Cumulative mortality rates 2.9% lower than last year but higher for working age adults

Jasmine Urquhart
clock 11 April 2024 • 1 min read
Trustpilot